IN THE HIGH com’: 0%’ KARNATAKA AT eameawfixa
DATED THIS THE 3″‘ my 0? JuL.¥_,;2aQ’s. _
swoag
me HQNBLE ;sxa.JusTIcE Mcmés$HA%s4TAm6ca;:£>;a§
CQWANV
BE EH:
H-tzarzb iand Barzgaiwtet-:ran:%cz’i;;31i{c§n_’ ~ . ” ‘ ~ % _
And Sezvicres Prxv’ ate Lin:_1_i1′:a=,ec’i—. ‘ X AA
A Canxyézziy’ :ii1::<§:'f}01*ait::§§:"iL.£1;;£1s:1' the
Pmvigioné .;:¥f' <:un:ipg;:;ie:.__Act,,.? 1956
Has;i11g its ..RegiStfefed caffitze at V
P10f} No._1f 1; 'B:;z;i1é=rghait$a Road
Arake re, .13a11gaE_%3′- Q?..’–5
Kaifnatéz ka. . . Patifiolzer
Sn: cm:ap;§gL’& C3,, Ac1v,,)
V_ ..R=::.°sp0nd€:nt
Sri 17;}As§eApak, far Official Liquidaior
sr;..:3;:§:, Rajendra, ccsc far ROG)
This Company §3’ef:Etion is flied zmcitsr Sections 391 ta
394 0f the (1o.mpza11;i{:s Act, 1956, praying to sailcticsrz the
sclrmme 0f Arrangamezat zmd AmaEgan1a?:ion so as to be
bim:iir;.g on al}. the creeiitors, hath secumd am} unsecufled
“*3:
and the shamholéers of the. company and (:3 “t§:;<:. saini
Company' .. _
This csmpany petition ctoming on f<3r"'0:fi:'£i€#;"s.,VV
the (301111 mach the fo}l0wi11g:~
Petit.i011er–T1"a11sf6r6;*..__2
preSE:I1t pvatitian under 1 1394 of the
Csmpaniés Act, _ (f«g:r referred to
as the 'Acfl 'fa: of Merger.
2:. :f.L*§c fi»ffi:~rat@d on 38.8.2600
un€i.::1**- the p::;»;:s3%.:%:ga1* the Act, as a 13}:’iva1;e limited
<::::§I;pé§::*;.jg*.A _ Gfiice of the petitioner»
"sit1_;;;'¢ad at P10: No,1/ 3., Ba11I}e1*ghat'i;a Read,
' V' "Ara-}§€:1"§',«.ifiazigalore76.
V authorized share capital of the p:=:ti’ti<}31e;'–
gfiaipafiy is Rs.E.~,G{),{){){)/- consisting of 59,000 of equity
Lfiifxares of B2310/~« sack. The issued, subscribed and
paifi up capital is Rs.1,€}(},0€}8/~ censisting caf V};-f_)1,0{}{} of
tsqaity shares 0f £25.10/~ sack}.
4. The main object sf 1:116 petiti0;:¢i’»~L§:or§1p%:é1;fiy’ K
provide managerial, e:1gi11cT§%z:1*iIig1; “mfai13iI.§g~,
softwarfi acctmizting 3..I”1d ‘
Cfiilfilfitaflfijf ta.Mu1’¥:i otfiér
c}.ie1::z’£:$ in {ndia .’»3§r~::vid<§ Eébiisultancy far
icielutificatic-:1' {if Gbfi§§§i®ifies in India, in
a.s§ "S€:'»i'txI.rar€ developmerat, gwatzn
fieié. géreject t1"a11sc:ripti0:1 and is assist
i:}.e_ntiii4:i:a:t§;{21i:.V<':~f S3;-éS"0f mew projects, etc.
' = 51'..Th6'ViV::§;éié{i13.g 9f the Board of Directors 0f the:
was heid on 1. 12.2907, in which the
A Mergrza" was appreved. A eapy cf the Sitheme
_ _ 0f..f:€{.«:§rg€r is produced at Am1&xure~»A $0 the petiticm.
6. The })6{ifiOf}6F~COI}1p8;f1}F has only fine securad
creditor and the said securad creditcsr E15355 given N0
L/5
Qbjectisfl for “the Scheme 0f A1Tar1ge:1;§i:§§;;T._V The
petitiGI1er~C0n1pany has two s11a1’eI1:)ld§:’S’ of
them have no Gbjectien for the Scheme… __’:f;T.h€~..§311se§:im~f;{“i’-
eraciitors have: 3150 given I5I<:~f'Dfij§{:ti€5:':' -:
Schema. '1'heref0re, $36..
apijiicatiorx beferfi this -1:;;1d’€ 1′ 391 of the
Act, in CA.N<§. '}i§'é;5_1 " permission to
«::1ispe1'1s€ " }:1:::eiiI1g of the
aim us:1s€c'L:1*ed
C1;i:dit::1"é{VL"%i3'i df "app%§.<.:ati0I1 was eliowed afid
convéffijiig §fi'_fl'1?fi"F1T.1:§€'€Ti}1g 0f the $ha1*eh61de1*s, secsured
.»};redi?Q1's a:1:iVV__:,;:33cwcz13:*r:d cretfitors was dispensed with.
' thé: presserit mtitiezi is filed on 31.12.2007
" 513%;-ravai of {I16 Schelne by this Cce':.1r"t.
x L 7. This Ctcwurt. issued 110t:i<::e of the petition it} the
V' Regienal Direcétor and 31% Gificial Liqtiiiiatar and 33st)
orcimeii advartiseiazxant; in "Hmdu" and nizacia,
. 5 ,
Prabha" Iiewspapers. Accerdimgly, the aCiV€1"iiSfi3111€:i1i 0:"
the petition was taken gut in {ha said newspé§pé§i_'$§'' ,
8. Though ‘£116 Ragistmr Gf
wifi1 “S16 iigticé and th0ug1?i §pi€é”§«.<§ Xff:1;:1'€*_{$'»ifi3i'1_t§:{i *'!:}}?'1
aezivecats, til} this day, ':T1f1.»V£}*t}'1§3r
werdss, he does net hav$"a$f§;»0bjj€:Ctic§nA i'}i;1' VSfi;;hen1§ sf
Bv'£e1'ger. V' 'V A V'
9. Thy: his report. 0:11
Ceurt that the aifairs 0f the
not appaar to haw: been
.. g§§iGIE€3L1Ct€§ii” a manner prejudiciai to the i3:1te1*e:.st af its
A ” -. _V;1*:r:§:I3A7:.’j£3i?’;§t:%’s»3.a:_):{‘ to the pubiic.
V”§:’1″1e ‘§’ranssferee Company is a Baku’ based
‘«::’;)ii:-..pa§1i:;3_~,-v’. Aczsardirzg is the pefiiiozler her€’m, ‘”E’1’a3:1sfr31*3anj; has aiso fiiad simiiar ififitiiififl fC}I’
Ha1najgama*;iGn in Deihi High Cs::m’§;. As £:1f0E”€i?i€E1iiOi”1{:’£i,
bath {hit shamh<)k1e:'s :31' the pe€itie11€r'c0n:1};:a11§; 113%
M
no csbjectian for marger. ?urs'u.ant t0 the: S«_che111e 03?'
%.é§erge:: ~*::2'1:13.”}.1; af
‘£’ra3″1’sfer=:31′ Compan’1r::s, if any, as f1″c33:;;:if—- -:§p;:j§%:;i1″i’:;6e:1
dam shail be assumed by th«3~Tra;n:§f&r§E:? ind’
shail 336 rayayabie by ‘1’rat1si’aré<%§ T<Sia::ii;:~:;§:1§.zj as" J
magi candifiens of g:"a31t-.§§i'~.§1'edit..__ Spa}: %.%Stiic'iié1T1 0? aha
Scim-ma, the autiqarized"31?;3f€:»L,_ca§3its;§-A.0f"each 0f the
tr:1r1sf-arm' c:11pa13ie_:§’ Sfiixfiii; stafiii. “;::a:ggrega*s:.«3d with the
aut.11z3z’i2:§éms*§;?:~::*{}1″ Shall 3::s«e{:0ms3:. €1’1}§}1{}’j9?E€S 03:” ‘aha
‘j?ra31sfe?ec,{Zs:)1″n§a;{ij§ *sszit’i1(;>u{ break in Sfifvififi 311$ at
‘~3’.§i.€I’_ifiZiSV 1:”10′}=:é+s§___};2e11eficiai than the fiifiififiifi tsrms. Tm:
_oz1}j;;. 5:-z:&:11:e{i Cr<_=:dit01" E133 aim E10 Gbjectian fax' the
""..__:3ié:;';g:'L';;t:1j "iihti. 9011133312165. The ;:w€titic:n§1' has foflowed
211$' *37§:£§uisita farmaliifxsas ':10 be 0bS€1'¥*':3d Linda' the
Qaifapmxiag Act and 'me as the shar£3h§E(£e1"s raid the
«-..<;:r::r:%§;£+:1rs have :10 (3bj€{:€:_'i0:i , this Court is {sf [ha fiffiifiififl
f»/5
that {£115 is ii fit $356 is afiew tha pcifiitien. Acgézxfiiiigly,
the fefiowiiig erder is mafia:-' T
Thfi Sarzhtz-'me af mérger pi*.0pt.i=':'~3»3;d h;:_ tkié ;3i::§1i%,ie:§;,i_s2r-
c«:}mpar1},-«* is samiiioneé. " Sfiiiltlfi be _"ai11ding aéxi'
equity S1'i$'€h€.')1(i6I';S a;z1ciV…§:if<:::;ii'?:£:r1"s bf'-3;11e_;§petiti01*1€:r–
{:0mpa:1}2.
Tha ‘~is:.r,5fi1’e<:tfid ':0 draw' up
(iecree '
T-he Vpé:3:i§i<fi11§i"=~s;§t;3:§1p.*§11§; she}; £316 8. certified cap}?
of '£h£:"'-z;;;'d€:rV""~.§2ii%: 4Re§'s'i'5*a;i:' £31' Compamkis withiii
days'- 'ii-*.r:p1fQ the date of the ardar. The pe{iti011€r–
' 'C{31i3§}%1Iij*;% S3"1aiv __ I stand disseixrefi xvimout ihere baing any'
* A .{;1*&:i€i'A Gfjxafizidizlg up.
‘ .. .P€ti$:i<m is aiiawed ac<:c;1*&i11gi§¢.
"'C}{j – It
Judge